Malpractice Insurance Questions

[jennylynn_1983]

I understand the difference between occurance and claims made (I think). I currently have a claims made policy, paid by my employer. I will have to purchase a tail when I quit, correct? Do I have to buy it from the same company? Does anyone have experience with this?

I didn't know I was supposed to do this with my first job, and now I'm worried about that .

[core0]

For claims made policies you have to buy a tail. Ideally you negotiate this to be paid by the employer when you sign a contract. Generally you purchase this from the same company. There is something called a nose which is a tail for the old policy bought as part of the new policy. It covers you for claims prior to your current policy. The cost of a tail depends on your claims status, specialty and years on the policy. Generally around one years premium and up.

[phillycpnp-pc, MSN, RN, NP]

I also have a claims made policy in my contract. It is paid by my employer. The practice will only pay for 50% of the tail coverage. I called the insurance company to have this all explained to me further. From what i understand, you purchase the tail when the policy is cancelled (when you switch jobs).